01-17-2013 09:29 AM
I am new to this forum and I LOVE IT! I wish I had found out about this when I decided to file BK in July 2012.
Question: I use to be a member with NFCU and I owed them $2000. I included this in my BK, my BK was Discharge in October 2012. I called them today to re-open my account and they told me I still owe the debt. Is this true? I thought when you file BK this wipe out the debt. Can someone help me with this.
01-17-2013 12:38 PM
01-17-2013 12:41 PM
Yeah unfortunately with NFCU if you've included any of there products in a BK you'll have to pay everything you owe in order to be considered for membership again. And once you are back in you'll have to prove credit worthiness if you'd like to apply for CC's or Loans. But it can be done - and has been done so keep your head up and pay them if a re-newed relationship with them is at the top of your priority list.
Best of circumstances to you!
01-18-2013 05:24 AM
I have decided to file Chapter 7 bankruptcy. I have my home financed through Navy Fed . I have a Navy Federal credit card and a consumer loan I would like to add to my bankruptcy. Can Navy Federal add these to my home loan once the BK is filed, or can this affect my home loan in any way???
01-19-2013 11:28 AM
I agree, they are great and worth trying tomaintain a relationship...
I suspect that they are using a cross-security clause to say you still owe a debt. Generally CUs have this, banks don't. I've seen posts here where a poster had a car and unsecured debt with a CU, poad off the car and couldn't get the car title without paying the other debt. Same could possobly apply here to your home.
01-20-2013 12:12 PM
01-20-2013 12:37 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.